Waning global demand, austerity measures, and weak domestic demand alongside the euro's volatility continues to pressure the euro area's recovery and extended the current account deficit for the euro members.

The euro area's November current account deficit widened to 6.0 billion euros in non-seasonally adjusted terms following 2.1 billion shortfall revised lower from -2.3 billion.

In seasonally adjusted terms, the current account deficit ballooned to 11.2 billion euros from a revised 9.6 billion shortfall slightly less than the originally reported deficit of 9.8 billion euros.